Feasibility Assessment Framework (FAF): A Systematic and Objective Approach for Assessing the Viability of a Project

摘要

The objective of this article is to discuss the Feasibility Analysis Framework (FAF) as an effective approach to conducting a feasibility study for producing a robust project proposal. The approach is based on key information provided in a project business case developed using the Project Domain Framework (PDF). The PDF is as an alternative model in project management that systematically and logically facilitates the writing of a business case at the project initiation phase. To complement the development of a proposal the FAF has been developed to systematically and objectively produce an effective feasibility study. The FAF is a six step framework, developed using action research strategy that involved over 20 client assignments for a period of five years. The article discusses its concepts and application using a simple but practical real case study. Using the case study it demonstrates how project alternatives and options may be generated, objectively analyzed using weighted the TELOS criteria to confirm the viability of the project by determining whether it will overcome legal, technical, economic and operational requirements in a desired time limit. The process culminates in the accept or reject recommendation.